MRKT 319. Exam 3. SELU. Budden.

Age-based microculture

People of similar ages act similarly

Role conflict

All the world's a stage

Advertiming

(Sell gold when other investments aren't attractive)

Promoting an item when people are most receptive

Acquisitional shopping

Specific, intended purchase

Epistemic

(Looking for car)

Acquiring knowledge

Experiential

Seeking recreation; shopping for fun

Impulsive

Immediate self-fulfillment

Outshopping

Lives in one city, but shops in another; seeks excitement; seeks selection; seeks the experience

Impulsive shopping

Usually spontaneous and gives short term feelings of satisfaction; no regard for costs or consequences; motivated by need for immediate self-fulfillment

-Need recognition

-Search for information

-Evaluation of alternatives

-Purchase (choice)

-Post purchase evaluation

5 steps of the decision process:

Routine consumer decision process

Everyday decisions

Limited consumer decision process

Somewhere in the middle

Extensive consumer decision process

Never had the need before

Demographics

Psychographics

Situational factors

Life cycle stage

Motivation

Factors that affect the decision process:

Ethnic subculture

Self perpetuating group of consumers who show common cultural or genetic ties

Deethnicization

Products from one subculture that appeal to other subcultures

Acculturation process

Adapting to another's culture

True

Just because its legal doesn't mean its ethical

Utilitarian principle

Act in a way that results in the greatest god for the greatest number

Deontology principle

You do what you are obligated to do do; do what you say you will do; keep your word

Professional ethic

Only take actions that would be viewed as proper by a disinterested panel of professional colleagues

Casuistic theory

You do what worked before; follow precedent

Golden rule

Act in a way you would expect others to act towards you

Television test

Act in such a way that you would feel comfortable explaining your actions on national tv news

Consumer misbehavior

Sometimes called aberrant behavior, illicit behavior, dysfunctional or deviant behavior

Morality

Refers to ethicality of behaviors

Moral equity, contractualism, relativism

Moral beliefs are compromised of 3 components:

Moral equity

Beliefs about an act's fairness

Contractualism

Violation of written and unwritten laws

Relativism

The social acceptability of an act

Deontological evaluation

If I say I did it, I have to do it

Kant's Categorial Imperative

Act in a way that would be considered a universal law

Teleological evaluation

Focuses on the consequences of the action

Unfulfilled aspirations

Thrill seeking

Lack of moral constraints

Differential association

Pathological association: revenge

Opportunism: the rewards

Motivations for misbehaviors

Cleptomania

Strong compulsion to steal

The marketing concept

Everyone should work together to satisfy customers and achieve their objectives

Should satisfy consumers

Implication:

Product

Do you need anything else to work

Place

Limited availability raises prices

Price

Stating a regular price is really a sales [rice

Promotion

Bait and switch

Societal marketing concept

Goes beyond the marketing concept

Federal trade commission

Can issue cease and desist orders and can fine companies for false, deceptive practice and unfair business practices

Stealth marketing

Consumers don't know they are being marketed too

Strict liability

Injury occurred because the product was faulty

Negligence

Must show that the company knew something as wrong and did nothing

Compensatory damages

Intended to cover the costs incurred due to an injury

Punitive damages

Intended to punish a company for its actions

False

T/F The largest ethnic group in the US other than whites of European descent are African Americans

False

T/F In studying the African American market, researchers have found that African Americans are all alike and exhibit similar consumer behaviors

True

T/F More than 1 in 10 Americans list Spanish as their primary language

True

T/F Many people of the same age end up sharing many of the same values and develop similar consumer preferences

Role conflict

Charlotte has a nice semi-formal dress she wore to a sorority party. Many guys complimented her on her dress at the party. This week, she wore the dress to a job interview at an advertising agency. Ms. Smith, the head of the agency interviewed Charlotte. Afterwards, Charlotte thought Ms. Smith seemed distant and cold. Charlotte thinks now that maybe the dress was a little too revealing for an office situation. This is an example of:

4 billion

Our book mentions that some ______________ consumers live in poverty worldwide:

False

T/F In a 2008 election, twitter feeds mentioning candidate names for office were tabulated and used to predict elections. The researchers found this new use of technology to be amazing predictors of who would win the election

False

T/F Marketers know that men and women make decisions in the same way

Hispanics

The largest ethnic group in the US other than those descended from white Europeans are:

Gen X

This group was known as "latchkey" kids as they were often at home alone and wore their house keys around their necks:

True

T/F After Hurricane Katrina, electricity was out in my neighborhood for 8 days. Shortly after, many of my neighbors purchased built-in, automatic generators to assure they would not be without electricity in case of another storm. Since then, we have not been without electricity as no storm has caused another outage. Sometimes, the perception of a need is greater than the need

Brand inertia

________ is where a consumer continues to buy a brand even though they do not have a real attachment to the product. In a way, they continue to buy the brand because they are too lazy to go out and try other brands

True

T/F Impulsive shopping can contribute to negative self-conscious emotions including guilt and shame

True

T/F Extended decision making revolves around a high involvement situation where the risk of a wrong or bad decision can be very costly

Blue

Colors mean different things in different cultures. However, ______ is probably the most universally liked color

True

T/F Outshopping is often a result of consumers seeking an exciting experience or an opportunity to interact with others

Planned purchases

Impulsive consumption is characterized by all BUT

True

T/F Price is an important consideration since it is a signal as to how much value may be forthcoming from a particular product

Epistemic shopping

John wants to buy a new rifle for hunting. At night, he surfs the web looking at rifle manufacturers' websites for information about the various products available that would fit his needs. This type of shopping behavior to acquire knowledge about various products is known as

True

T/F You go to lunch at a restaurant you have never visited. You have 50 minutes because you have to get back in time for class. You order a burger because you don't have time to look over the menu. This is an example of time pressure influencing your consumer behavior

Anomie

Joey lives in poverty. He dropped out of school in second grade and is largely illiterate. He will never get a good job and never be able to afford a nice car. So he steals one. This is due to a concept known as

Many have more than one phone

The estimated effective penetration rate for the number of US consumers of cell phones is now over 100%. That is because

Pathological socialization

Mike shopped at Wal-Mart for a long time. One day he applied for a job with Wal-Mart. They did not hire him. The next week, he stole a bike from the store, reasoning they owed him something. This reasoning is a type of

True

T/F Bob's father sold drugs to support his habit and regularly abused drugs as Bob was growing up. When Bob was old enough he started dealing drugs as he saw it as an acceptable way of life. His motivation for such behavior could best be described as lacking moral constraints

True

T/F Some people shoplift because they find the act exciting

$63 billion

According to the Business Software Alliance, over $ __________ was lost in 2011 due to the fact that many consumers used illegally copied software instead of purchasing it

-aberrant consumer behavior

-dysfunctional consumer behavior

-illicit consumer behavior

-All of these are terms used to describe consumer misbehavior*****

-None of these terms describe consumer misbehavior

Our book discusses consumer misbehavior. Which of the following terms describes consumer misbehavior

True

T/F Binge drinking has been linked to suicide attempts, unsafe sexual practices, legal problems, academic disruptions and many deaths

-thrill seeking

-lack of moral constraints

-Pathological association

-All of these may be motivations for misbehavior****

-None of these are motivations for misbehavior.

Consumers may misbehave for all of the following EXCEPT

Contractualism

Steve and Mary are married. In their vows was the promise to stay together for the rest of their lives. Steve lately has found Susan in his CB class to be attractive and he splits from Mary. In evaluating his action using common moral beliefs, we would say he violated this belief